A self-build or construction loan is a type of short-term loan (from 6 to 18 months), which is suitable for a house construction financing or any other kind of immovable property in Toronto. Once the construction is completed, the phase will begin.
Your construction company calculates the required amounts of money for certain stages of building construction. In addition, a work plan and a time frame are drawn up. Creditors will compensate “draws” the builder for each completed construction stage and renovation after appropriate confirmation. The final draw directly depends on the amount of work performed by the building company.
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